Thursday, July 6, 2017
Ambry Genetics Acquired For $1 Billion
Aliso Viejo-based Ambry Genetics, a developer of a suite of genetic tests for inherited and non-inherited diseases, has been acquired by Japanese company Konica Minolta, a deal worth $1 billion. According to Konica Minolta, it will pay $800M on closing, plus up to $200M in earnout, for Ambry Genetics. Konica Minolta said the transaction is partially funded by Innovation Network Corporation of Japan (INCJ). Ambry Genetics was founded in 1999. The company's founder, President and Chairman is Charles L.M. Dunlop and its CEO is Dr. Aaron Elliott. The companies said Ambry Genetics will continue to be based in Aliso Viejo, operating as a subsidiary of Konica Minolta.